How To Fix FARR_MSG_CUSTOM512 - ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1.

SAP Error Message - Details

• Message type: E = Error

• Message class: FARR_MSG_CUSTOM - Customizable Messages for Revenue Accounting

• Message number: 512

• Message text: ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1.

What causes this issue?

Accounting principle &v1& is not configured to perform cost recognition.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

If you want to define cost recognition for the accounting principle,
enable cost recognition for the accounting principle in Customizing:
<DS:SIMG.FARR_VC_ACCT_PR>Configure Accounting Principle-specific
Settings</>.
If you don't want to define cost recognition for the accounting
principle, mark the performance obligation as a standard performance
obligation and delete the condition type for contract acquisition cost
when the contract acquisition cost is handled at contract level. Delete
the condition type for contract acquisition cost when the contract
acquisition cost is handled at performance obligation level.
Note: If you don't want a certain accounting principle to perform cost
recognition, you can customize this message as a warning message or
simply switch this message off.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_MSG_CUSTOM512 - ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1. ?

  The SAP error message FARR_MSG_CUSTOM512 indicates that there is an issue with the processing of acquisition costs in the Asset Accounting (FI-AA) module. Specifically, the error states that the cost recognition is not defined for the account specified (represented by &1 in the message).
  Cause:
  The error typically arises due to one of the following reasons:
  
  
  Missing Configuration: The cost recognition method for the specified account (Account Type) is not defined in the system. This can happen if the configuration for asset accounting is incomplete or incorrect.
  
  
  Incorrect Account Assignment: The account being referenced may not be set up correctly in the asset master data or in the configuration settings.
  
  
  Transaction Type Issues: The transaction type used for the acquisition may not be linked to the correct cost recognition method.
  
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the configuration settings for Asset Accounting (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Asset Accounting > Integration > Define Cost Recognition.
  Ensure that the cost recognition method is defined for the relevant account type.
  
  
  
  Review Asset Master Data:
  
  Check the asset master record for the asset in question (Transaction code: AS03).
  Ensure that the account assignment is correct and that the relevant accounts are properly assigned.
  
  
  
  Verify Transaction Type:
  
  Check the transaction type used for the acquisition (Transaction code: OAOA).
  Ensure that it is correctly configured to recognize costs and is linked to the appropriate cost recognition method.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources for any specific notes related to this error message.
  
  
  
  Testing:
  
  After making the necessary changes, try to process the acquisition cost again to see if the error persists.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as AS01 (Create Asset), AS02 (Change Asset), AS03 (Display Asset), and OAOA (Define Transaction Types).
  SAP Notes: Check for any SAP Notes that may provide additional insights or patches related to this error.
  User Roles: Ensure that you have the necessary authorizations to make changes in the configuration or asset master data.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant specializing in Asset Accounting.